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As a business owner, you should know your MCC for a variety of reasons, including the following: Tax purposes: MCCs can help business owners to determine whether they can report certain payments ...
Small business owners, independent contractors and gig workers soon will be getting 1099-K tax forms if they used any payment platform on which they had at least $5,000 in business transactions in ...
The EIN serves a similar administrative purpose as a SSN, but for a business entity rather than an individual person. In some cases, such as a sole proprietorship, an SSN may be used as a business Tax ID without applying for a separate EIN, but in order to hire employees or establish business credit, an EIN is required. Unlike a SSN, an EIN is ...
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The Foreign Tax Credit is a way to lessen your U.S. tax liability and offset income taxes paid to other countries. Find out if you qualify. GoBankingRates 5 days ago
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Internal Revenue Code section 6109(d) provides: "The social security account number issued to an individual for purposes of section 205(c)(2)(A) of the Social Security Act [codified as 42 U.S.C. § 405(c)(2)(A)] shall, except as shall otherwise be specified under regulations of the Secretary [of the Treasury or his delegate], be used as the ...